News Corp shares closed high ahead of Leveson report

<p>Shares in News Corp closed higher on the Nasdaq yesterday, but how will they react when the Leveson report is delivered?</p>

Shares in News Corp closed higher in New York yesterday (November 29th) on the eve of Lord Justice Leveson's much-anticipated report into press standards.

The Murdoch family-run media conglomerate is one of the companies that was scrutised throughout the inquiry, which highlighted misconduct and ethically-questionable practices that had been carried out across the industry.

Later today, Lord Leveson is set to deliver his report into the future of press regulation, 16 months after the public inquiry was launched.

It is likely to be a landmark event for the media, police and politics and the matter has divided the coalition government.

Leveson's report will make recommendations on reforming regulations and whether the sector needs a more robust system of "self regulation".

On the technology-heavy Nasdaq at close of play last night, News Corp Class A shares were up by 1.8 per cent to $24.37 per unit, approaching their 52-week high of $25.42.

Find out about the Nasdaq and spread betting strategies at City Index.

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.